THE FEDERALIST SOCIETY FOR LAW AND PUBLIC POLICY STUDIES (EIN 363235550) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

STEVEN G CALABRESI

Phone

2028228138

Tax Period

2023-10-01 to 2024-09-30

THE FEDERALIST SOCIETY FOR LAW AND PUBLIC POLICY STUDIES, founded in 1982, is a mid-sized nonprofit that reported $22.5M in total revenue in fiscal year 2023. Expenses of $27.7M exceeded revenue, resulting in a 23% operating deficit.

Mission

THE ORGANIZATION PROMOTES INTELLECTUAL DIVERSITY AND THE RULE OF LAW IN THE LEGAL COMMUNITY. IT IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $16,482,333

Program Service Revenue $1,706,350

Investment Income $4,355,763

Other Revenue $5,445

TOTAL REVENUE $22,549,891

Expense Breakdown

Grants Paid $323,647

Salaries & Benefits $9,085,057

Fundraising Expenses $979,518

Program Expenses $24,501,196

Other Expenses $18,308,815

TOTAL EXPENSES $27,717,519

Year-over-Year Comparison

	2023	2022	Change
Revenue	$22,549,891	$21,483,325	+0.0%
Expenses	$27,717,519	$26,202,293	+0.1%
Net Income	$-5,167,628	$-4,718,968	+0.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

6125

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,568,062

Total Directors

$1,337,817

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Eugene B Meyer	Director/President & CEO	40.0	Officer Director	$730,081	$72,633	$802,714
LEE LIBERMAN OTIS	DIRECTOR/SENIOR VICE PRESIDENT	40.0	Officer Director	$445,500	$24,103	$469,603
Dean A Reuter	Director of Practice Groups	40.0	Highest	$391,000	$67,692	$458,692
Peter K Redpath	Director of Student Division	40.0	Highest	$272,000	$63,876	$335,876
RAYMOND QUIANZON	DIRECTOR OF FINANCE	40.0	Officer	$238,000	$57,745	$295,745
Nathan Kaczmarek	VP & DIR, REGUL. TRANSPARACY	40.0	Highest	$220,500	$56,723	$277,223
Lisa Ezell	VP & DIR, LAWYERS CHAPTER	40.0	Highest	$231,000	$44,015	$275,015
ALIDA KASS	VP & DIRECTOR	40.0	Highest	$225,000	$15,750	$240,750
T Kenneth Cribb Jr	Director	0.0	Director	$55,000	$0	$55,000
JOHN O MCGINNIS	DIRECTOR	0.0	Director	$8,000	$0	$8,000
NICOLE STELLE GARNETT	DIRECTOR	0.0	Director	$2,500	$0	$2,500
Steven G Calabresi	Director/Co-Chairman	0.0	Officer Director	$0	$0	$0
LEONARD A LEO	DIRECTOR/CO-CHAIRMAN	0.0	Officer Director	$0	$0	$0
DAVID M MCINTOSH	DIRECTOR/VICE CHAIRMAN	0.0	Officer Director	$0	$0	$0
GARY LAWSON	DIRECTOR/SECRETARY	0.0	Officer Director	$0	$0	$0
BRENT O HATCH	DIRECTOR/TREASURER	0.0	Officer Director	$0	$0	$0
DONALD MCGAHN II	DIRECTOR	0.0	Director	$0	$0	$0
EDWIN MEESE III	DIRECTOR	0.0	Director	$0	$0	$0
NICHOLAS QUINN ROSENKRANZ	DIRECTOR	0.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$22,549,891	$27,717,519	$48,330,166	$-5,167,628
2023	$21,483,325	$26,202,293	$49,918,447	$-4,718,968
2022	$33,866,191	$24,508,301	$42,664,907	$9,357,890
2021	$18,916,989	$17,671,416	$35,150,091	$1,245,573
2020	$20,366,345	$19,604,839	$31,619,788	$761,506
2019	$23,291,988	$23,162,279	$31,658,750	$129,709
2018	$22,650,746	$21,668,456	$31,211,664	$982,290

THE FEDERALIST SOCIETY FOR LAW AND PUBLIC POLICY STUDIES